Govt waives off four months rent for IT units operating out of software tech parks

New Delhi: In what will come as a huge relief to IT and ITeS companies operating out of Software Technology Parks of India, the government on Thursday has decided to waive off the rent being paid by these units till June — that is for a period of four months. […]

New Delhi: In what will come as a huge relief to IT and ITeS companies operating out of Software Technology Parks of India, the government on Thursday has decided to waive off the rent being paid by these units till June — that is for a period of four months.

Union minister of electronics and IT, Ravi Shankar Prasad said in a tweet, “IT units/ startups operating from 60 STPI Centers across India have been granted waiver from paying rental for period between 01.03.2020 and 30.06.2020. This will benefit nearly 200 small & medium IT/ITeS units supporting 3000 direct jobs.”

The total cost of the rental waiver provided to these units during 4 months period from 01.03.2020 to 30.06.2020 is estimated to be around Rs 5 Crore.

STPI is an autonomous society under Ministry of Electronics & Information Technology and it has 60 centers across the country. “The initiative to provide rental waiver to the units located in these centers will provide relief to the industry in this crisis situation emerged due to COVID19 pandemic. This initiative will provide benefit to nearly 200 IT/ ITeS MSMEs, operating from these 60 STPI centers,” a statement issued by the Press Information Bureau said.

This effort is also in the larger interest of around 3,000 IT/ ITeS employees who are directly supported by these units, it added.

Source Article

Lois C. Ferrara

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